The most recent New Jersey gambling news is all about the numbers.
The Division of Gaming Enforcement (DGE) released December’s casino and sports betting revenue numbers on Tuesday. The report put an exclamation mark on an already stellar year for the NJ gambling market.
Mobile sports betting in NJ collects all the bets
Gambling’s golden child, online sports betting, continues to impress insiders and onlookers alike.
While NJ sports betting revenue didn’t set a record for December, coming in slightly under its November total, it did push handle to $4.5 billion for the year.
That is pretty impressive for a less than 2-year-old market, which still has plenty of room to grow.
All the credit goes to mobile sports betting apps, which accounted for 88% of all bets wagered in New Jersey for the month. It’s the highest monthly handle percentage since online sports betting launched in 2018.
FanDuel Sportsbook and DraftKings Sportsbook continued their dominance in the market. They brought in nearly $30 million in revenue.
Even so, all eyes were on Borgata‘s 1258.6% increase in sports betting revenue when compared to November.
Is it a fluke or a new trend? We’ll find out in mid-February when the next report is released.
AC online casino revenue sets its ninth record for 2019
While everyone’s busy talking about sports betting, let’s not forget that casino gambling still rules the roost.
For December, online casino gambling revenue equaled nearly $50 million with three online casinos setting records:
While it didn’t set a record, Golden Nugget is still the leader of the pack by a wide margin. However, the online casino did give up some market share to Borgata and Resorts.
Even New Jersey online poker rooms had a good month.
The $1.7 million in revenue it generated was its second-highest of the month, and its 16.2% growth is the largest month-over-month increase since June 2017.
While all that is impressive, Atlantic City casinos ended 2019 with a massive $3.2 billion in revenue — a number it hasn’t seen since 2012.
Unfortunately, though, five casinos ended the year down from where they started:
There has been a lot of talk lately about the sustainability of New Jersey’s online casino market.
Chris Grove, a partner at Eilers & Krejcik, told Online Poker Report that he thinks it is sustainable.
“We are way past the early-adopter stage on the casino side. New Jersey is a very healthy state from an economic perspective and the marketing and promotional environment appear sustainable for at least the near to midterm.”
It looks like 2020 will be another eventful year.
Coming up in New Jersey gambling news
Several events will attract betting attention in the next week.
Earlier this week, the Oscar nominations came out, and we are keeping our eyes on NJ sportsbooks for odds. It looks like New Jersey will be the only state again to allow betting on the Oscars.
The big UFC bout between Conor McGregor and Donald “Cowboy” Cerrone goes down on Saturday. And the Australian Open championship begins Monday, Jan. 20.
But all eyes will be on the NFL this weekend as the Super Bowl matchup is set.
Betting on the NFL conference championship games will surely dominate the discussion on Twitter and elsewhere this weekend.
The AFC Championship game between the Tennessee Titans and Kansas City Chiefs kicks off at 3:05 p.m. EST on Sunday, Jan. 19, on CBS.
The NFC Championship game between the Green Bay Packers and San Francisco 49ers also take to the field on Sunday. Kickoff is at 6:40 p.m. EST on Fox.